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A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000. The internal rate of return is 12%

A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000. The internal rate of return is 12% and the annual rate of return is 18%. The amount of the annual net income was

a. $7,020.

b. $6,480.

c. $4,680.

d. $4,320.

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